Illumina announced today it has entered into a definitive agreement with Standard BioTools under which Illumina will acquire SomaLogic, a leader in data-driven proteomics technology, for up to $425 million.
Illumina paid SomaLogic $30 million upfront, with the companies later agreeing to an adjusted price of $158.4 million—a price that includes $127.9 million of royalties that Illumina had been expected to pay Standard BioTools from 2025 through 2032.
The relationship between the two companies has been developing over the past several years. Illumina and SomaLogic began partnering in late 2021. Indeed, in January 2022, SomaLogic announced that it was partnering with Illumina to bring SomaLogic’s SomaScan Proteomics Assay onto Illumina’s NGS platforms. The goal was to develop co-exclusive, co-branded, NGS-based proteomics products.
When SomaLogic combined with Standard BioTools—a merger that started in 2023 and completed in January 2024—the partnership continued as planned with the development of Illumina’s NGS-based proteomics solution,…
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